Blue chips drag VN-Index down

By Hung Le   December 26, 2019 | 01:51 am PT
Blue chips drag VN-Index down
The VN30 for Vietnam's 30 biggest blue-chips fell 0.13 percent on December 26, 2019. Photo by Shutterstock/Pavel Ignatov.
The VN-Index lost 2.33 points, or 0.24 percent, to end Thursday on 958.59 points, with most blue chips going red.

189 stocks lost and 139 gained on the Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based.

Order-matched transactions reached VND2.36 trillion ($102 million), the lowest liquidity session this quarter, and far below the VND3.14 trillion ($135.7 million) average so far this month.

The VN30-Index for Vietnam’s 30 biggest market cap stocks shed 0.13 percent, with 18 stocks losing and 10 gaining.

ROS of real estate developer FLC Faros led losses with session with 6.9 percent, followed by BID of BIDV, one of Vietnam’s three biggest state-owned lenders by assets, which fell 2.2 percent.

GMD of sea freight and logistics firm Gemadept lost 1.9 percent, BVH of leading insurance firm Bao Viet fell 1 percent, and GAS of state energy firm PetroVietnam Gas shed 0.7 percent.

Shares of Vietnam’s two other major state-owned lenders, VCB of Vietcombank and CTG of VietinBank fell 0.6 percent and remained at opening price, respectively.

VIC shares of Vietnam’s biggest private conglomerate Vingroup fell 0.1 percent this session, while VHM of the former’s real estate arm Vinhomes rose 0.6 percent, and VRE of Vingroup’s retail subsidiary Vincom Retail added 1.5 percent.

The biggest gainer this session was MSN of food conglomerate Masan Group, up 2.3 percent, its third consecutive gaining session after losing around 25 percent over the last 15 sessions.

The stock plunged 7 percent on December 3 after Masan announced a merger of its consumer retail units with Vingroup on the day, and continued to fall up until the last three sessions.

Other gainers included VPB of mid-sized private lender VPBank, up 0.8 percent, and NVL of real estate developer Novaland, up 0.7 percent.

Foreign investors were net sellers to the tune of VND12 billion ($519,000) on HoSE, with selling pressure mostly on VIC of Vingroup and SAB of Vietnam’s biggest brewer Sabeco.

Meanwhile, HNX-Index for stocks on the Hanoi Stock Exchange, Vietnam’s second main bourse for small and mid-cap stocks, fell 0.59 percent, while UPCoM-Index for Unlisted Public Companies rose 0.11 percent.

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